Canadian transportation firm Mullen Group’s first-quarter profit rose on higher demand at its oilfield services and trucking and logistics units.
Net income rose to C$58.8 million, or 73 cents per share, from C$48.3 million, or 61 cents, a year ago. Revenue rose 24.3% to C$426 million.
Operating income rose to a record C$99.1 million, and was up 33.2% from a year ago.
Oilfield services operating income accounted for C$17.5 million of the increase, while the trucking/logistics segment added C$6.2 million.
Mullen Group is ranked No. 56 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.